PBF Energy Inc. $PBF Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in PBF Energy Inc. (NYSE:PBF) by 9.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 299,269 shares of the oil and gas company’s stock after selling 32,800 shares during the period. Rhumbline Advisers’ holdings in PBF Energy were worth $9,029,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PBF. Royal Bank of Canada grew its position in PBF Energy by 63.6% in the 1st quarter. Royal Bank of Canada now owns 30,932 shares of the oil and gas company’s stock valued at $590,000 after buying an additional 12,025 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of PBF Energy by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,723 shares of the oil and gas company’s stock worth $1,140,000 after acquiring an additional 2,609 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of PBF Energy by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 261,704 shares of the oil and gas company’s stock valued at $4,996,000 after acquiring an additional 12,289 shares in the last quarter. Acadian Asset Management LLC increased its stake in shares of PBF Energy by 261.0% during the first quarter. Acadian Asset Management LLC now owns 3,256 shares of the oil and gas company’s stock worth $62,000 after acquiring an additional 2,354 shares during the period. Finally, ARGA Investment Management LP increased its stake in shares of PBF Energy by 63.0% during the second quarter. ARGA Investment Management LP now owns 79,619 shares of the oil and gas company’s stock worth $1,725,000 after acquiring an additional 30,786 shares during the period. Hedge funds and other institutional investors own 96.29% of the company’s stock.

PBF Energy Stock Performance

Shares of PBF stock opened at $34.37 on Friday. The stock has a fifty day moving average price of $31.03 and a 200 day moving average price of $30.71. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.51 and a current ratio of 1.21. The stock has a market cap of $3.98 billion, a PE ratio of -23.38, a P/E/G ratio of 4.29 and a beta of 0.50. PBF Energy Inc. has a 1 year low of $13.61 and a 1 year high of $41.47.

PBF Energy (NYSE:PBF) last announced its quarterly earnings results on Thursday, February 12th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.64. PBF Energy had a negative return on equity of 8.86% and a negative net margin of 0.54%.The business had revenue of $7.14 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same quarter last year, the business posted ($2.82) earnings per share. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. Sell-side analysts forecast that PBF Energy Inc. will post -1.12 earnings per share for the current fiscal year.

PBF Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 25th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Wednesday, February 25th. PBF Energy’s dividend payout ratio is -74.83%.

Wall Street Analysts Forecast Growth

PBF has been the topic of a number of analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $34.00 price objective on shares of PBF Energy in a report on Monday, January 5th. Piper Sandler lifted their price target on PBF Energy from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. TD Cowen reiterated a “sell” rating on shares of PBF Energy in a research report on Friday, October 31st. UBS Group raised their target price on PBF Energy from $37.00 to $42.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Finally, Citigroup boosted their target price on shares of PBF Energy from $29.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $30.21.

Insider Activity at PBF Energy

In other news, insider Control Empresarial De Capital sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $36.79, for a total transaction of $110,370.00. Following the completion of the transaction, the insider directly owned 28,440,198 shares of the company’s stock, valued at $1,046,314,884.42. This trade represents a 0.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 2,385,879 shares of company stock valued at $82,719,180 in the last quarter. 5.30% of the stock is owned by corporate insiders.

PBF Energy Profile

PBF Energy, Inc is an independent petroleum refiner organized in 2008 and headquartered in Parsippany, New Jersey. The company began trading on the New York Stock Exchange in July 2012 under the ticker symbol PBF. Since its formation, PBF Energy has grown through acquisitions and operational optimization, positioning itself as a leading supplier of refined petroleum products in the United States.

The company owns and operates five refineries located along the U.S. Gulf Coast, East Coast and in the Pacific Northwest, with a combined crude oil processing capacity of approximately 900,000 barrels per day.